Tesla's earnings report comes weeks after Elon Musk's automaker reported another decline in vehicle deliveries.

Tesla just reported its second consecutive year of declining revenue and profits, further complicating Elon Musk’s $1 trillion effort to transform his company into a leader in AI and robotics. Meanwhile, the global EV market continues to grow, seemingly in spite of the pioneering company’s setbacks.

Tesla Inc. plans $20 billion of spending this year to streamline its electric-vehicle lineup and shift resources toward robotics and AI, part of a sweeping set of changes pushing the company further from its roots as an automobile manufacturer.

Tesla CEO Elon Musk announced a $2B investment into xAI and the discontinuation of Model S and Model X in order to support Optimus robot production.

By Chris Kirkham and Akash Sriram LOS ANGELES, Jan 28 (Reuters) - Tesla plans to more than double capital spending to a record high of more than $20 billion this year - but little of it will go to its traditional business of selling electric vehicles to human drivers.

Tesla plans to spend more than $20 billion on capital projects in 2026, as the company spends heavily to invest in what CEO Elon Musk called an "epic future." Investors didn't take kindly to such plans,

Tesla’s annual profit plunged to its lowest level since the pandemic five years ago as it lost the title of the world’s biggest electric vehicle maker to a Chinese rival and boycotts hammered sales. The EV company run by Elon Musk reported Wednesday that net income last year dropped 46% to $3.